PELLEX down by INR 200/MT to INR 6,950/wmt (DAP Raipur). No pellet deals heard from Raipur pellet makers in this publishing window. However, market participants shared that Raigarh based pellet maker sold pellets to Raipur at around INR 6,900/MT (DAP, Raipur).
Major Raipur based pellet makers kept the offers stable at INR 7,400/MT( Ex-plant); normalizing for freight to Raipur at INR 7,550/MT (DAP Raipur). There is an indication from markets that offers may revise soon.
Raigarh based pellet makers offer unchanged at INR 6,300- 6,500/MT (EXW).
SteelMint P-DRI Assessment (Feb 04, 2020) down by INR 400/MT W-o-W to INR 18,750/MT as against INR 19,150/MT (Ex-Raipur) a week before.
No pellets export deal heard in this publishing window. SteelMint assessment for standard grade pellets (Fe 64%, 3% Al) stands at USD 120/MT, CFR China against last week.
Considering coronavirus outbreak, no deals were reported to China, however, today iron ore fines (Fe 62%) inched up to USD 83.05/MT, CFR China.
India Pellet Trade Log-:
— Bellary based major pellet maker sold around 18,000MT high-grade pellets for Fe 65% at INR 7,700/MT (EXW) yesterday. Other pellet maker sold around 17,000 MT pellets for Fe 63% grade at INR 6,900-7,000/MT three-four days back.
SteelMint pellet reference prices as on 04th Feb’20
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 6,300-6,400 |
| Barbil* | 63 | 6,200-6,300 |
| Jamshedpur | 63 | 6,300-6,400 |
| Raigarh | 63 | 6,300-6,500 |
| Bellary | 63 | 6,800-7,000 |
| Jajpur | 63 | 7,050 |
* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
Click here to see SteelMint Pricing Methodology and Rationale documents.
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